The president of SantaCon, an annual event in New York City in December where thousands of young people dress up as Santa Claus and drink across the city, has been charged with wire fraud. Prosecutors with the Southern District of New York say Stefan Pildes, 50, siphoned more than $1 million (£737,000) raised through the SantaCon charity for his own personal use.
Stefan Pildes promoted SantaCon as an event grounded in charitable giving, but instead of donating the millions of dollars he raised, he ran his own con game, US Attorney Jay Clayton said in a statement.
The prosecution alleges that Pildes exploited New Yorkers' holiday generosity to support his lifestyle through various personal expenses. An attorney for Pildes has not yet been named in court documents. SantaCon, attended by around 25,000 people according to the charging document, was advertised as a charity fundraiser.
However, despite raising about $2.7 million (£1.989 million), Pildes is accused of misallocating more than half of that amount into a personal 'slush fund', which included expenses like concert tickets and luxury dining. Specific allegations include spending $365,000 on home renovations and nearly $3,000 on a lavish birthday dinner. Court documents reveal only a minuscule part of the money raised actually went towards charity.
Pildes is facing one count of wire fraud, which could result in a 20-year prison sentence. Prosecutors claim he defrauded countless participants and small business owners involved in SantaCon from 2019 to April 2026.
Stefan Pildes promoted SantaCon as an event grounded in charitable giving, but instead of donating the millions of dollars he raised, he ran his own con game, US Attorney Jay Clayton said in a statement.
The prosecution alleges that Pildes exploited New Yorkers' holiday generosity to support his lifestyle through various personal expenses. An attorney for Pildes has not yet been named in court documents. SantaCon, attended by around 25,000 people according to the charging document, was advertised as a charity fundraiser.
However, despite raising about $2.7 million (£1.989 million), Pildes is accused of misallocating more than half of that amount into a personal 'slush fund', which included expenses like concert tickets and luxury dining. Specific allegations include spending $365,000 on home renovations and nearly $3,000 on a lavish birthday dinner. Court documents reveal only a minuscule part of the money raised actually went towards charity.
Pildes is facing one count of wire fraud, which could result in a 20-year prison sentence. Prosecutors claim he defrauded countless participants and small business owners involved in SantaCon from 2019 to April 2026.
